They can only borrow on shares you have on margin.
This is correct, legally speaking. But if GME has shown us anything, its that laws dont apply to these people.
So when my friend asked his manager he got the same answer. So he switched the question around a bit: "So can you guarantee you wont borrow the shares if I am not using margin?" and the guy was evasive and eventually pointed him to his boss. The boss was evasive as well and never have a yes or no answer. But, he was able to give an "YES" answer if your account did not even have a margin feature. I dont know if all this means anything, but given what we are seeing, its wise to be prepared.
This is correct, legally speaking. But if GME has shown us anything, its that laws dont apply to these people.
So when my friend asked his manager he got the same answer. So he switched the question around a bit: "So can you guarantee you wont borrow the shares if I am not using margin?" and the guy was evasive and eventually pointed him to his boss. The boss was evasive as well and never have a yes or no answer. But, he was able to give an "YES" answer if your account did not even have a margin feature. I dont know if all this means anything, but given what we are seeing, its wise to be prepared.
good to know. thanks